ASSUR and ITA have also entered into a technical assistance agreement which allows ASUR to have a perpetual and exclusive license in Mexico to use all technical assistance and "know-how" transferred to it by ITA or its stockholders for the duration of the agreement.

Furthermore, ASUR announced that on January 23, 2002, it was informed by the Mexican judicial authorities that Mexicana de Aviacion, Aeromexico and Aeromar, three Mexican-based airlines, have initiated a lawsuit against the Ministry of Communications and Transport (SCT) requesting that the registration of specific tariffs filed by ASUR in the second quarter of last year be declared void.

Mexico), added: "Since the privatization process of Mexican airports, ASUR has been one of the developers which has shown leadership and experience in the building, operation and commercialization of airports.

BANAMEX signed a five years contract for banking services and ATMs operation in all nine ASUR airports located in Cancun, Cozumel, Merida, Veracruz, Minatitlan, Villahermosa, Tapachula, Oaxaca and Huatulco.

The contract will cover all nine ASUR airports, including the Company's three largest, Cancun, Cozumel and Merida airports, as well as the airports of Veracruz, Villahermosa, Oaxaca, Huatulco, Tapachula and Minatitlan.

Frantz Guns, CEO of ASUR, said: "We cannot estimate how long this situation will last and in this moment we cannot inform what will be the impact upon ASUR's revenues since some of the Aeromexico's passengers are going to be transported by other airlines.

All content on this website, including dictionary, thesaurus, literature, geography, and other reference data is for informational purposes only. This information should not be considered complete, up to date, and is not intended to be used in place of a visit, consultation, or advice of a legal, medical, or any other professional.